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NEW CABINET

Swee Keat named new Finance Minister

Next year's Budget to be presented later than usual to give him enough time to prepare it and to give Parliament time to debate President's address

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Mr Heng was the managing director of the Monetary Authority of Singapore before he entered politics in 2011

Singapore

NEXT year's government Budget will be presented after February - later than usual - and it will be presented by a new Finance Minister.

Heng Swee Keat's appointment to head the finance portfolio is one reason why Budget 2016 will be delayed, Prime Minister Lee Hsien Loong